Pacific North West Capital Corporation-PFN on Alberta Message Board

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Gold/Mining/Energy : Pacific North West Capital Corporation-PFN on Alberta

PFN 7.420

-0.7%

Oct 30 5:00 PM EST

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To: John Trudeau who wrote (2183)	10/30/2003 5:59:32 AM
From: E. Charters	Read Replies (2) of 2255

I believe the resource will expand to perhaps 4 million indicated, probable and potential ounces within the next year. Anglo has committed to spending 5.3 million dollars for drilling PFN's River Valley project to aim at an expansion target. This means that they probably have scoped some kind of economic possibility in the ounces/tons that have been found, and could be found so far. What is open is the possibility of enrichment zones, and deeper, possibly richer zones. As well, the grade of a possible "core segment", with higher cut off, which may put grade higher and within range of more stringent acceptance criteria ROI-wise, has not yet been calculated. It will take twice the amount of depth and definition drilling to do this with comfort, so a exhaustive feasibility may take another 40 million in hole punching. On the other hand with the widest-zone-concept, 1.5 to 2 gram total precious metal possibilities right now, the roughly US 19 to 25 dollar rock they have may well pass Anlgo's threshold of feasibility. I would say this figure would probably be north of 1 billion dollars total cash flow and better than 45% net on pre tax cash costs. It may be true that this sort of situation can be projected at roughly soon. Right now PFN's aim is to work up on River Valley a 2 million ounce resource. This seems realistic. If you add in that this one advanced project is perhaps 1/5 of PFN's total "platinum balls in the air", then I would say one could figure a growth upside for this company. EC<:-}

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